Global Extruded Snack Foods Market Expected to Grow at a CAGR of 2.3% During 2017-2022

Global Extruded Snack Foods Market Expected to Grow at a CAGR of 2.3% During 2017-2022

Global Extruded Snack Foods Market Expected to Grow at a CAGR of 2.3% During 2017-2022

The popularity of extruded snack foods has been growing robustly in urban markets as these products can be consumed instantaneously, without having to indulge in lengthy cooking procedures. This coupled with the introduction of new products with innovative flavours, ingredients, seasonings, etc. have acted as a major catalyst in driving market growth.

A recent report by IMARC Group titled, “Extruded Snack Food Market – Industry Trends, Manufacturing Process, Plant Setup, Machinery, Raw Materials, Cost and Revenue” provides an in-depth analysis of the global extruded snack foods market. Extruded snack foods are made by the extrusion of various ingredients, for example corn, tapioca, oats, potatoes, wheat, etc. These are further processed and converted into semi-cooked or pre-cooked food products such as breakfast cereals, corn curls, onion rings, pasta, fish paste, jelly beans, macaroni, processed cheese, breads, puffed food products, etc. Based on the findings of the report, the market has grown at a CAGR of 3% during 2009-2016, reaching a value of US$ 50 Billion in 2016. Further, the market is expected to grow at the rate of 2.3% during 2017-2022 reaching figures of US$ 57 Billion by 2022.

In today’s fast-paced lifestyle and long working hours, extruded snack foods offer the consumers a substitute to the tedious cooking methods and do not involve complicated cooking procedures. This represents the primary driving factor for the market. Apart from this, the companies in this industry are coming up with innovative techniques to increase the sale of these products among kids and younger generation. These snack foods are now being introduced with a whole new range of flavours, ingredients, seasonings and shapes to please the changing tastes of the consumers. To satiate the demands of the health-conscious consumers, efforts are also being made towards devising healthier extruded snack foods. In recent times, products like energy and nutrition bars, protein-packed cereal crisps and low-fat products have been introduced which have helped in capturing a wider consumer market.

The report has segmented the market of the extruded snack foods on the basis of key regions. The market is highly concentrated in the regions around Europe and the USA showing an exceedingly favourable demand for such products. Among these regions, Europe emerges as the largest consumer followed by the USA and Asia-Pacific. The report has also analysed the competitive landscape of the market covering the key global players. Some of the players covered in the report are Nestle, Kellogg’s, Diamond, General Mill, PepsiCo and Kraft Foods.

The report provides a detailed roadmap for setting up an extruded snack food market manufacturing plant. The study, which has been done by one of the world’s leading research and advisory firms, covers all the essential aspects of the extruded snack food market. This ranges from a comprehensive view of the market to minute details of the industry performance, processing and manufacturing requirements, project cost, project funding, project economics including expected returns on investment, profit margins, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the extruded snack food market industry in any manner.

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

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